The European Parliament has today voted in favour of a proposal aimed at tackling the oversupply of emissions allowances in the EU’s emissions trading scheme by postponing the auctioning of 900 million allowances.
Jean Lambert, Green Party MEP for London, said:
“Today’s vote gives us a chance to make the EU’s emission trading scheme work properly.
“The carbon market has been far too weak and the price of carbon too low. Postponing the auctioning of these permits will allow the crisis-ridden emissions trading scheme do begin doing its job of actually cutting carbon emissions.
“The ETS proposals passed despite the intense lobbying of some of Europe’s most polluting industries. Let’s hope that this vote paves the way for the Commission to propose some deeper structural reforms to the ETS which enable us to cut our carbon emissions and create decent green jobs across Europe.”